The Thermae Berzieri thermal baths at Salsomaggiore have been brought back to life thanks to a redevelopment project undertaken by CDP Real Asset SGR through the National Tourism Fund, funded by CDP and the Ministry of Tourism, in partnership with QC Terme Srl, a leader in the wellbeing industry. The project, for a value of 44 million euro, has given back to the town of Salsomaggiore, in the region of Emilia-Romagna, a site of great architectural, cultural and economic value, and an icon of art deco-style thermal baths.
The work was presented during an institutional event attended by the Minister for Tourism, Daniela Santanché, the Minister for European Affairs, the National Resilience and Recovery Plan and Cohesion, Tommaso Foti, along with Luca Musile Tanzi, Mayor of Salsomaggiore Terme, and Michele de Pascale, President of the Region of Emilia-Romagna. Also present were senior managers from the companies involved and industry operators, with Michele Zuin and Antonino Turicchi, the Chairman and CEO respectively of CDP Real Asset, Francesco Varni, CEO of QC Terme, Leonardo Lamanna, Superintendent for Archaeology, Fine Arts and the Landscape, and Marina Lalli, President of Federturismo, the Italian Tourist Industry Federation.
During the event, Andrea Montanino, Chief Economist and Director of Sector Strategies and Impact of CDP, presented the project’s expected economic and social impacts.
In the short term, the project will generate 90 million euro of revenue and approximately 600 jobs locally in the building industry, in addition to 64 million euro from the so-called ‘hedonic benefit’, which measures the cultural value perceived by visitors and the greater spending appetite associated with the historic and artistic value of the site.
The most significant effects will be in the medium/long-term, with 390,000 tourists expected by 2030 (up on the figure of 200,000 in 2024). Once fully operational, higher spending could have annual impacts on the entire sector of over 100 million euro and 850 jobs, while new investments in tourist facilities will lead to a further 100 million and 600 jobs.